Romano company applies overhead for job 323 at 140 percent, Financial Accounting

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Romano company applies overhead for job 323 at 140 percent

The following information pertains to Romano Company for September:

Direct Material Direct Labor Overhead

Job #323 $3,200 $4,500 ?

Job #325 ? 5,000 ?

Job #401 5,670 ? $5,550

Romano Company applies overhead for Job #323 at 140 percent of direct labor cost and at 150 percent of direct labor cost for Jobs #325 and #401. The total cost of Jobs #323 and #325 is identical.

Refer to Romano Company Assume that Jobs #323 and #401 are incomplete at the end of September. What is the balance in Work in Process Inventory at that time?

a. $18,920

b. $28,920

c. $30,120

d. $22,620

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Financial Accounting: Romano company applies overhead for job 323 at 140 percent

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Financial Accounting: Romano company applies overhead for job 323 at 140 percent

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